This is just a H4 chart of what I think is nearing a bottom of this correction. A small amount of money here could bring in fortunes. We are closer to the end of a bear market than the beginning, even though the past few days make it feel otherwise. See long-term XVG post.
Comment:
Not saying for SURE the bottom is in, but it could be. I would want to see > $0.015 for a higher level of confidence.
Comment:
A couple of options here...
This last high (5 up to 0.01055) was a C wave for an Expanded Flat for a 4th wave, requiring one more low.
The same 5 up is wave small first wave up from the previously lasting low.
This last high (5 up to 0.01055) was a C wave for an Expanded Flat for a 4th wave, requiring one more low.
The same 5 up is wave small first wave up from the previously lasting low.
Comment:
It appears the bottom is most likely in. This move up is definitely acting like the 3rd wave that was expected....the beginning of it at least. Another indication (contrarian of course) is that BTCUSDSHORTS are still moving up to near all-time highs and the bears are all-in short, taking some serious heat. For confirmation of an interim top (wave 1 circle), I would expect this number to be the opposite, at an extreme low, just when they should be short. This also follows Elliott and market sentiment at extremes.